#auspol #ausvotes #election2013 $2500 tax cut for the average taxpayer: Clive Palmer Palmer United Party federal leader Clive Palmer today pledged to slash income tax by 15 per cent, putting $2500 in the average taxpayer’s pocket. Mr Palmer said that the cut would turbo-charge economic growth by encouraging consumers to spend more and stimulate the economy. “We can spend our money better than the government can and in the process boost jobs, investment and small business profits,” Mr Palmer said. “If the money circulates ten times in a year, which it almost certainly will, collecting 10 per cent GST each time, the government will get back the same amount of tax anyway but this will impact positively on our economy.” “Every time you spend it will create more jobs and more demand.” Mr Palmer said that if the Palmer United Party was elected the cut would take effect from 1st of July 2014. The policy is part of the party’s plan to turbo-charge the economy which also includes allowing companies to pay tax annually instead of quarterly which would leave $70 billion to circulate in the economy and abolishing Fringe Benefits Tax to inject $4 billion into the economy.
Posted on: Tue, 27 Aug 2013 10:55:50 +0000
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